Latest news with #demurrage
Yahoo
29-05-2025
- Business
- Yahoo
Veson Nautical Expands IMOS Platform with AI-Powered Claims Management
IMOS X Claims CoCaptain leverages AI trained specifically to enable companies to tackle costly inefficiencies in demurrage management BOSTON, May 29, 2025 (GLOBE NEWSWIRE) -- Veson Nautical (Veson), a global leader in maritime data and freight management solutions, today announced the launch of IMOS X Claims CoCaptain, an AI-powered extension of claims management capabilities within IMOS designed to streamline the demurrage claims process. For decades, Veson has partnered with clients worldwide to solve challenges and drive continuous innovation across the full freight management lifecycle through the IMOS Platform. One challenge that could not be ignored is claims management. Claims teams are often overwhelmed by manual processes and time-consuming document collection—spending the bulk of their time preparing to process claims rather than analyzing them. This burden only grows with large, complex cases, leaving even less time for strategic decision-making. Developed using the latest advancements in artificial intelligence, Claims CoCaptain marks a significant evolution in managing claims. The solution automates time-intensive tasks, speeds up decision-making, and empowers analysts to focus on outcomes that drive business value. As part of the IMOS Platform, changes in Claims CoCaptain automatically update P&Ls, financial reporting and integrated systems throughout the claim lifecycle–providing a single end-to-end platform. 'Claims CoCaptain reflects our deep commitment to solving maritime challenges with technology that is both innovative and grounded in real-world workflows,' said Eric Christofferson, Chief Product Officer at Veson Nautical. 'As the claims settlement process is a critical and costly part of the freight contract lifecycle, managing both from a single platform provides numerous efficiencies and reduces errors. The IMOS foundation and data will allow claims specialists and operators to more strategically manage the claims outcome.'Built on IMOS. Powered by AI. Claims CoCaptain is a module offered within the IMOS Platform, Veson's market-leading solution for commercial freight management and voyage execution, and is accessed through IMOS X, Veson's new, fast, and mobile-friendly user experience. It was developed with maritime claims teams in mind, drawing on twenty years of domain expertise and focused research and development. Analysts typically spend countless hours reviewing statements of facts (SOFs), gathering timestamps, and calculating laytime—often across fragmented sources. Claims CoCaptain automates much of this manual work by using AI to organize and extract key data from emails and voyage documents in a centralized workspace. This enables analysts to concentrate on strategic aspects of the claim, improving accuracy, responsiveness, and overall outcomes. Improving visibility and creating a decision advantage Claims teams have long operated with limited visibility into the size, scope, and urgency of active claims—making it difficult to prioritize workloads and respond quickly. Claims CoCaptain solves this by centralizing information in one place and intelligently categorizing claims based on complexity and time sensitivity. IMOS X Claims CoCaptain is now available to existing and new IMOS Platform clients. Learn more and request a demo at About Veson Nautical Veson Nautical empowers the global maritime industry to navigate compounding complexity on all sides of the trade. Multi-jurisdictional regulations, geopolitical disruptions, decarbonization, cybersecurity threats, and more are forcing industry participants to recalibrate their risk tolerance. By combining trusted maritime data with built-for-purpose workflows, Veson gives clients the decision-making confidence to manage risk and maximize profit. With a heritage of innovation and expertise across all maritime related contracts, Veson serves more than 38,000 users across 2,400 companies in more than 100 countries and is uniquely positioned to enable a decision advantage. Learn more at If you have any enquiries, please contact the press team: Kevin BaxterSenior PR & Communications Managerkbaxter@ +44 (0) 20233970102 Veson Nautical Press Teampress@ Office +44 (0)20 3397
Yahoo
29-05-2025
- Business
- Yahoo
Veson Nautical Expands IMOS Platform with AI-Powered Claims Management
IMOS X Claims CoCaptain leverages AI trained specifically to enable companies to tackle costly inefficiencies in demurrage management BOSTON, May 29, 2025 (GLOBE NEWSWIRE) -- Veson Nautical (Veson), a global leader in maritime data and freight management solutions, today announced the launch of IMOS X Claims CoCaptain, an AI-powered extension of claims management capabilities within IMOS designed to streamline the demurrage claims process. For decades, Veson has partnered with clients worldwide to solve challenges and drive continuous innovation across the full freight management lifecycle through the IMOS Platform. One challenge that could not be ignored is claims management. Claims teams are often overwhelmed by manual processes and time-consuming document collection—spending the bulk of their time preparing to process claims rather than analyzing them. This burden only grows with large, complex cases, leaving even less time for strategic decision-making. Developed using the latest advancements in artificial intelligence, Claims CoCaptain marks a significant evolution in managing claims. The solution automates time-intensive tasks, speeds up decision-making, and empowers analysts to focus on outcomes that drive business value. As part of the IMOS Platform, changes in Claims CoCaptain automatically update P&Ls, financial reporting and integrated systems throughout the claim lifecycle–providing a single end-to-end platform. 'Claims CoCaptain reflects our deep commitment to solving maritime challenges with technology that is both innovative and grounded in real-world workflows,' said Eric Christofferson, Chief Product Officer at Veson Nautical. 'As the claims settlement process is a critical and costly part of the freight contract lifecycle, managing both from a single platform provides numerous efficiencies and reduces errors. The IMOS foundation and data will allow claims specialists and operators to more strategically manage the claims outcome.'Built on IMOS. Powered by AI. Claims CoCaptain is a module offered within the IMOS Platform, Veson's market-leading solution for commercial freight management and voyage execution, and is accessed through IMOS X, Veson's new, fast, and mobile-friendly user experience. It was developed with maritime claims teams in mind, drawing on twenty years of domain expertise and focused research and development. Analysts typically spend countless hours reviewing statements of facts (SOFs), gathering timestamps, and calculating laytime—often across fragmented sources. Claims CoCaptain automates much of this manual work by using AI to organize and extract key data from emails and voyage documents in a centralized workspace. This enables analysts to concentrate on strategic aspects of the claim, improving accuracy, responsiveness, and overall outcomes. Improving visibility and creating a decision advantage Claims teams have long operated with limited visibility into the size, scope, and urgency of active claims—making it difficult to prioritize workloads and respond quickly. Claims CoCaptain solves this by centralizing information in one place and intelligently categorizing claims based on complexity and time sensitivity. IMOS X Claims CoCaptain is now available to existing and new IMOS Platform clients. Learn more and request a demo at About Veson Nautical Veson Nautical empowers the global maritime industry to navigate compounding complexity on all sides of the trade. Multi-jurisdictional regulations, geopolitical disruptions, decarbonization, cybersecurity threats, and more are forcing industry participants to recalibrate their risk tolerance. By combining trusted maritime data with built-for-purpose workflows, Veson gives clients the decision-making confidence to manage risk and maximize profit. With a heritage of innovation and expertise across all maritime related contracts, Veson serves more than 38,000 users across 2,400 companies in more than 100 countries and is uniquely positioned to enable a decision advantage. Learn more at If you have any enquiries, please contact the press team: Kevin BaxterSenior PR & Communications Managerkbaxter@ +44 (0) 20233970102 Veson Nautical Press Teampress@ Office +44 (0)20 3397 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Automotive
- Yahoo
Aussie drivers reminded of little-known road rule that can score you a free car
The average Australian driver travels more than 200 kilometres each week in their vehicle. For those who rely on their car for a daily commute, being involved in a car crash can be one of life's great inconveniences. But if the crash wasn't your fault, there's no reason you should be left without an equally good car while yours is undergoing any repairs. In fact, you're legally entitled to one. "About three in four people aren't aware of their right to drive after they're not at fault in an accident,' says Nicolas Rio, general manager at Right2Drive. "It refers actually to quite an old law — the law of demurrage," he explained, with the term being borrowed from the shipping industry and its application to road accidents has even been upheld in the High Court of Australia. "The law still holds true today... if you've been in an accident and you're not at fault, you're legally entitled to be restored to the position before the accident," Rio told Yahoo News. However, according to the company's research nearly three quarters (74 per cent) of Australian drivers are unaware of such a legally enshrined entitlement. Right2Drive claims since its inception, it has helped some 300,000 drivers with a free car across Australia and New Zealand, with the company then chasing up the insurance provider of the driver who was at fault to cover the costs of the loan car. The company has compiled data on the types of crashes it responds to, revealing the most common trouble spots for motorists. "We've got a very extensive data base of incidents and crashes from our propriety system... that represent non-fatal incidents," Rio said. One of the details from crashes in NSW, for instance, is that drivers are about three times more likely to crash in a car park (14.7 per cent) compared to a roundabout (5.6). There is one useful tip that could help you avoid being liable — reversing into car spots. That's because reversing out into a busy car park can be a common cause of crashes, and the reversing driver will almost always be deemed to be at fault. An Aussie insurance broker previously warned drivers they should reverse into a parking spot because backing out with limited vision could increase the chance they're liable for a fender bender. The Insurance Council of Australia has previously confirmed to Yahoo News Australia the little-known fact, that in most cases the reversing driver is automatically deemed to be the at-fault. But Rio said there are rare cases where that rule doesn't hold. "We definitely have instances where people have been reversing and are not at fault," he said. "If someone opens a car door into a reversing vehicle, they [the reversing car] are not at fault," he said, for example. The NSW focused data also showed rear-end collisions are the most common type of road crash at nearly 34 per cent of accidents, while single-lane roads were the most dangerous spots, accounting for nearly a quarter of crashes, followed by multi-lane roads, car parks, traffic lights, intersections and roundabouts. This week is National Road Safety Week with the annual initiative bringing together government bodies and road safety organisations to address the high costs of road collisions and work to reduce them. Professor Stuart Newstead, Director of the Monash University Accident Research Centre, on Monday highlighted the boon that has come from increased safety features and technology from car manufacturers. 🚘 New camera trial to target drivers breaching road rule in 'real-time' 🔋 Big shift on Aussie roads as electric car market hits 'major milestone' 🚦 Little-known traffic light hack to hit coveted 'green wave' "Vehicle safety improvements have played a major role in reducing road trauma over the past 50 years. Safer vehicles not only protect occupants during crashes but increasingly help prevent crashes altogether," he said. "However, there is still significant opportunity to reduce road trauma by encouraging safer vehicle choices, especially among younger and older drivers," he added. Earlier this year, Yahoo highlighted research that showed young drivers can be overrepresented in road fatalities, in part because they are more likely to purchase older, less safe vehicles. Budget-conscious young drivers often prioritise affordability over safety features, leading them to purchase cars with outdated braking systems, lower crash safety ratings, and worn-out components. "A key focus during National Road Safety Week should be how we can unlock this remaining potential [of vehicle improvements] to save lives," Prof Stuart said. Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
